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For buyers focused on affordability, Gravesend has the lower median sale price at $975K vs $1.3M in Chelsea.
Investors analyzing rental yield will find Chelsea offers a stronger rent-to-price ratio based on current market data.
Commuters have more transit options in Chelsea, which is served by 14 subway lines compared to 0 in Gravesend.
| Metric | Chelsea | Gravesend |
|---|---|---|
| Median Sale Price | $1,250,000 | $975,000 |
| Median Condo Price | $3,052,500 | $667,500 |
| Median Co-op Price | $830,000 | $357,500 |
| Median Rent | $5,975 | $3,075 |
| Active Listings | 366 | 165 |
| Rental Inventory | 721 | 76 |
| Days on Market | 60.5 | 56 |
| Price Cut Share | 12.8% | 9.7% |
| Monthly Sales Volume | 39 | 29 |
| YoY Price Change | -19.4% | -5.1% |
| YoY Rent Change | +7.7% | +4.3% |
| YoY Inventory Change | -12.9% | +1.9% |
| Subway Lines | 1 2 3 A B C D E F M N Q R W | N/A |
Prices in Chelsea moved -19.4% over the past year, compared to -5.1% in Gravesend. Both markets have seen price softening, with Chelsea declining more sharply over the measured period.
Chelsea is the epicenter of New York’s contemporary art world and a hub for innovative architecture. Home to the High Line and Chelsea Market, the neighborhood mixes industrial history with modern luxury. The real estate market here is dominated by high-end condominium developments designed by world-renowned architects, alongside historic pre-war lofts and historic townhouses in the Chelsea Historic District.
View Full Market ReportGravesend offers a broad housing mix including semi-detached single-family homes, postwar co-op towers, and newly constructed boutique condominiums spread across a grid of low-traffic residential streets in southern Brooklyn. The D, F, and N subway lines serve the neighborhood at multiple stations along Kings Highway and Avenue U, connecting to Midtown Manhattan in about 45 minutes. Calvert Vaux Park provides 73 acres of green space and waterfront access along Coney Island Creek.
View Full Market Report34 St-Penn Station (1 2 3 A C E) — 0.6 mi
34 St-Herald Sq (B D F M N Q R W) — 0.7 mi
No subway data available
Listing data is derived in whole or in part from the RLS at REBNY (Real Estate Board of New York) Internet Data Exchange (IDX) database. Real estate listings held by brokerage firms other than Milton Coste | Keller Williams NYC are marked with the RLS logo. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is refreshed every 15 minutes per REBNY IDX requirements.
From the 2008 financial crisis through the 2020 pandemic, the NYC metro Case-Shiller composite fell about 25% peak-to-trough between 2007 and 2012, then fully recovered by 2017 and gained another 15% through Q1 2020. Chelsea and Gravesend both tracked this broader NYC arc, with annual closing volume contracting sharply in 2009 and again in Q2 2020 before normalizing.
Chelsea tracked the more resilient Manhattan price path with a 10% to 15% peak-to-trough decline, while Gravesend moved closer to the broader NYC metro pattern of a 20% to 25% retracement before recovering through 2017.
Source: Per Case-Shiller Home Price Index, NYC metro subset, 2008-2020, cross-referenced with StreetEasy historical price data series.
| Metric (2026) | Chelsea | Gravesend |
|---|---|---|
| Median Sale Price | $1,250,000 | $975,000 |
| Median Rent | $5,975/mo | $3,075/mo |
| Year-over-Year Price Change | -19.4% | -5.1% |
| Average Days on Market | 60.5 days | 56 days |
| Distance to Nearest Subway | 0.59 mi | N/A |
Table values reflect current 2026 market conditions. Historical 2008-2020 commentary is sourced from Case-Shiller NYC metro composite and StreetEasy historical series.
With 25+ years of experience across all five boroughs, I can help you find the right neighborhood for your lifestyle and budget.
Data updated:
